The Government is considering options following the conclusion of the cap, which is set to expire on 1 July 2024, including modernising the coal royalty system to ensure it remains fit for purpose.
Minister for Energy Penny Sharpe also today held a meeting with representatives from coal power station operators.
The consultation process includes inviting industry to provide written submissions by 11 August 2023.
The information from consultations will help inform the Government’s priorities in the second half of the year.
The current system will remain unchanged until the expiration of the coal cap.
The Parliamentary Secretary to the Treasurer David Mehan participated in today’s discussions.
NSW Treasurer Daniel Mookhey said:
“These consultations are critical to ensuring we strike the right balance for the people of New South Wales and key industry stakeholders.
“It is important to meet representatives of the coal mining industry and hear their views on the operation of the coal cap and the future of the sector.”
Minister for Finance and Minister for Natural Resources Courtney Houssos said:
"Today’s meeting was productive and together with written submissions will inform the Government’s strategy.”
Minister for Energy Penny Sharpe said:
“The coal caps have played an important role assisting households and businesses with electricity costs. Understanding how the implementation has worked for power stations is important. I thank them for sharing their views as we contemplate future changes.”
